i am thinking more about system risk than I have in a long time. this story points to why that issue, one that you don't really want to face head on, because it has no head, for one reason, is a subtext in lots of financial stories these days.. .

The article reports the dramatic actions and actors in the Bear bailout, but does not frame a good understanding of full scope of the potential negative impacts on other parties, nor positive impacts of the bailout to other parties. The Bear criminal neglect of fiduciary responsibility as a prime mover in sub-prime mortgages is not mentioned. No effect is mentioned on the million dollar bonuses of the executives. The article soft-peddles the fact this is a bail-out of the negligent ... More »

A factual summary of the collapse of a major financial institution. Institutions of this size and reputation are now failing with alarming regularity. Does this mean that since it is happening all the time it is no longer news, or does it mean that a systemic crash is at hand? Does anyone actually know?